I've finished all main Final Fantasy titles except XIII, which I was very excited about at one point but then I saw a friend playing it and got his impressions then I decided I would not buy it and would play it someday, but I'm still making my mind up about that 'cause I know it's long and while I'm not expecting much I'm sure it'll be a hassle once I get to it.
My favorite Final Fantasy is VII. It was just revolutionary for its time and I had the pleasure of playing the game as soon as it released on PlayStation. It was the most expensive game for its day and it showed. The cinematic direction was just unprecedented, the characters and story was vintage Final Fantasy and I loved the steampunk setting. The materia system to this day is the best of the series. It was great to collect them, and it was even more fun to combine them and get awesome effects in battle. The story was the most dramatic and developed at that point, and that was thanks at large to the CD format which allowed no constraints for text dialogues, and the unforgettable FMV sequences on which Square, still very fresh-new on 3D development, made innovative strives integrating gameplay action on top of CG videos.
The story was more profound than any other Final Fantasy to the date, the characters were great and all of them had backstories to uncover. The were great extras like Zack's story which inspired a whole new game (Crisis Core). FFVII also has The Best FF villain. Period. No argument there. The story had awesome twists, great fights and dramatic moments worthy of the Final Fantasy name. Lots of good side-quests, very varied gameplay, chocobo breeding, vehicles, motorcycling, amazing summon animations! One of the best if not the best FF music soundtrack. Final Fantasy VII is at least on the top 5 games in history!
Worst Final Fantasy? Well, I haven't played XIII, but my belief is there is no "bad" Final Fantasy game. They are all, at least, good games. I would have to say I didn't enjoy Final Fantasy II (NES translated title) that much. For me it didn't add much of anything new to the series and the changes they made kinda lost the direction the first game had. It felt like Final Fantasy was already having an identity crisis still in its infancy. I'm glad they returned to form for the next NES game and stayed very true to its form until Final Fantasy VIII happened and after that it's been up and down but they have never recovered the splendor of the best of the first 7 titles.
My ranking:
7, 6, 10, 5, 4, 12, 9, 1, 3, 8, 2